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Ordinance 1765. . . .. . + � �. . . , r • �. ORDINANCE NO . 1 �6,� AN ORDINANCE AMENDING ORDINANCE NO. 845 OF THE CITY OF MIAMI BEACH, FLORIDA, ENTITLED "AN ORDINANCE PROVIDING FOR THE CREATION AND MA,INTENANCE OF A PENSION AND RETIREMENT SYSTEM FOR CERTAIN EMPLOYEES OF THE CITY OF MIAMI BEACH, FLORIDA,". BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF MIAMI BEACH, FLORIDA: SECTION l. That Section 5C of Ordinance No. 845 be and the same is hereby amended to read as follows : "SECTION 5C. .O1 Commencing as of November 5, 1968, Employee Members who become eligib le for benefits under Sections 5A.03, 5A.04, 5A,.08 or 5A.09 hereof shall be entitled upon retirement to a Retirement Allowance which shall be two and one- half (2-1/2) per cent of the final average monthly earnings multiplied by the number of years of Creditable Service not exceeding twenty-five (25) plus two (2) per cent of such final average monthly earnings multiplied by the number of years of Creditable Service in excess of twenty-five (25), provided that the Retirement Allowance shall not exceed eighty (80) per cent of the final average monthly earnings. In the event an Employee Member retires on a service retirement allowance prior to age fifty-five ( 55 ), he shall receive a reduced retirement allowance which is the actuarial equivalent of the retirement �allowance beginning at age fifty-five (55). An Employee Member retiring under the provisions of Section 5C may convert his Retirement Allowance into a joint allowance of equivalent actuarial value in accordance with provisions of Section 5A hereof, as if said Retirement Allowance were payab le under the provisions of Section 5A, but subject to Section SC.02.06. .02 An Employee Member retiring under the provisions of Section 5A.04 upon an application filed by the Employee Member or the City Manager shall, if he has five (5) or more years of Creditable Service at the time of his retirement, . be entitled, in lieu of an allowance under any other provision of this Ordinance, to a Disability Retirement Allowance determined in accordance with Subsection 5C.02.01 or 5C.02.02, whichever is applicable, provided that, if the Employee Member is eligible for service retiremerit at such time, the Retirement A1lowance shall be no greater than he would receive on service retirement. -1- +;- OFFICE OF CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139 � ".O1 Unless the a.11owance payable to such Memb�r is determined in accordance with Subsection 5C.02.02, a Non-Service Connected(Ordinary) Disability Retirement Allowance shall be payable, and the amount of such allowance payable from the time of retirement until the earliest date as of which the Employee Member �would have been eligible for service retirement shall be computed in accordance with SQction 5C.01 on the basis of his final average monthly earnings and Creditable Service at the time of his retirement, provided that such allowance shall not be less than thirty (30) per cent of the final average monthly earnings. .02 If, in addition to any other required certifications, the physical examiners shall certify that the disability of the Employee Member is the natural and proximate result of injuries sustained in an accident which occurred in a definite time and place while the Employee Member was engaged in the actual performan:ce of his City duties, a Service-Connected (Accidental) Disability Retirement Allowance shall be payable, and the amount of such allowance payable from the time of retirement until the earliest date as of which the Employee Member would have been eligib le for service retirement shall be computed in accordance with Section 5C.Ol on the basis of his final average monthly earnings and Creditable Service at the time of his retirement, provided that such allowance, including any payments received under the Workmen's Compensation Law, shall not be less than sixty-five (65) per cent of the final average monthly earnings. .03 During the period of his retirement on a Disability Retirement Allowance in accordance with Sub section 5C.02.01 or 5C.02.02, the Employee Member shall be credited with Creditable Service at the maximum rate of pay in effect at the time of his retirement for the classification at which he retired, and his Retirement Allowance shall be recomputed as of the date on which he would have been eligible for service retirement after consideration of the Creditable Service granted for the time on disability retirement and earnings assumed for such time. .04 As of the earliest date on which the Retirant would have been eligible for service retirement if he had not retired on account of disability, the Retirant shall be entitled to a Retirement Allowance computed in accordance with S�ction 5C.01 as though he had retired for service on the basis of his final average monthly earnings and Creditable Service as of such date, provided that such allowance shall be no greater than the Disability Retirement Allowance payable prior to such date in accordance with Subsection 5C.02.01 or 5C.02.02, whichever is applicable. -2- OFFICE OF CITY ATTORNEY -1130 WASHINGYON AVENUE - MIAMt BEACH, FLORIDA 33139 ".05 Prior to the earliest date on which the Retirant would have been eligible for service retirement if he had not retired on account of disability, annual earnings from employment shall not exceed an amount which, when added to the payments received by the Retirant as Disability Retirement Allowances, would result in a combined income of one hundred twenty-five (125) per cent of the maximum current salary for the classification from which he was retired if he is receiving a Service-Connected (Accidental) Disability Retirement Allowance, or in a combined income of one hundred (100) per cent of the maximum current salary for the classification from which he was retired if he is receiving a Non- Service Connected (Ordinary) Disability Retirement Allowance; otherwise payments of the Retirement Allowance shall be withheld to the extent that the combined income exceeds the maximum permissible amount. The Employee Member must agree at the time of his disability retirement, before any benefits are paid under this section, to furnish annually, before May 1 of each year, a copy of his Federal Income Tax return for the prior year. When the Retirant's combined income, consisting of earnings from employment and Retirement Allowance payments, exceeds the maximum permissible amount determined on the basis of the maximum salary for his classification as of January 1 of the prior year, future payments of the Retirement Allowance shall be withheld until the total amount with�eld equals the amount by.which his combined income for the prior year exceeded the maximum permissib le amount. Restrictions on earnings shall not be applicable after the earliest date as of which the Retirant would have been eligible for service retirement if he had not retired on account of disability. .06 A,n Employee Member retiring on a Disability Retirement Allowance under this Section 5C.02 may elect at the time of his retirement to conve� the part of his allowance determined, in accordance with procedures accepted by the Board, to be payab le for life, without reduction on a subsequent date, to a joint allowance of equivalent actuarial value in accordance with the provisions of Section 5A hereof, and the balance of the allowance shall be paid in accordance with the provisions of this Ordinance without modification on account of any election of a joint allowance." SECTION 2. That Section 5A.07 of Ordinance No. 845 be and the same is hereby amended to read as follows : -3- OfFICE OP CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139 .• - . , � . a w c � ".07 Final average annual earnings used in computing benefits shall be the average of the two (2) highest paid years; provided that, for the purpose of computing benefits under this section, final average annual earnings shall not exceed three (3) times the average annual earnings of all Members of the S�rstem for the preceding year, Final average monthly earnings shall be one-twelfth (1/12 ) of f inal average annual earnings. Creditable Service used in computing benefits under this section shall be limited to a m�imum of forty (40) years. Anything herein to the contrary notwithstanding, benefits computed prior to November 5, 1968 shall continue to be on the basis of 'final average monthly earnings' as def ined in the provisions of this section in effect prior to such date. " SECTION 3. That all ordinances, or parts of ordinances, in conf lict herewith, be and the same are hereby repealed. SECTION 4. That this ordinance shall go into effect immediately upon its passage and posting as required by law. PASSED and ADOPTED this 21 st day of May� 1969. ATTEST : �� � � .�1.''i.:.. -.-'-" ayor � � . � City Clerk and Finance Director lst reading - May 12, 196g 2nd reading - May 12, 1g69 3rd reading - May 21, 196g POSTED - May 22, 196g � OffICE OP CITY ATTORNEY - 1130 WASHINGTON AVENUE - MIAMI BEACH, FLORIDA 33139 iii i u i i i i i � � � � � � �� � � ���� � � � � � � � < < , STATE OF FLORIDA COUNTY OF DADE: ��+ ' I, RUTH B. ROULEAU, City Clerk and Finance Director in and for the City of Miami Beach, Florida, do hereby certify that Ordinance No. � �65 entitled: "AN ORD I NANCE AMEND i NG ORD I NANCE N0. 845 � OF THE CITY OF MIAMI BEACH, FLORIDA, ENTITLED 'AN ORDINANCE PROVIDING FOR THE ; CREATION AND MAINTENANCE OF A PENSION AND RETIREMENT SYSTEM FOR CERTAIN EMPLOYEES � OF THE C I TY OF MIAMI BEACH, FLOR I DA"'. having been passed and adopted by the City Council of the City of Miami Beach, Florida, has been posted by me in three conspicuous places in the City of Miami Beach, one of which was at the door of the City Hall in said City or� the 22nd day of Ma � 969 Y� and that said Ordinance remained posted for a period of at least thirty days in accordance with the requirements of the City Charter of the said City of Miami Beach. IN WITNESS WHEREOF I have hereunto set my hand and affixed the official seal of the City of Miami Beach, Florida, on this the 16th day of �u1y, 1g6g, �. City Clerk and Finance Director � � � N � N C U �Q cs �Q U Lf� C �0 •— L � � � .— l. a-J O L � � O� J O C .� � Q Z O C.� \ Z — Lf� — LL1 •tn �'1 \ C7 U � � � — Z N •— •— oC Q o.. +-+ O z C -6 — � N N � C � > cC •— N O O '�p � L c a a a� E a E •— co Q � �